GST Rate & HSN Code for Services – Chapter99
| SAC Code | Rate (%) |
|---|---|
| 9954 | 1.5/5/7.5/12/18 |
| 995411 | 1.5/5/7.5/12/18 |
| 995412 | 1.5/5/7.5/12/18 |
| 995413 | 1.5/5/7.5/12/18 |
What is HSN code for Labour work?
SAC Codes: SAC Code 9954 & SAC Code for Job Works | Tally Solutions.
How do I find my HSN number?
For example, if you are selling fresh bananas, you can find your HSN code under Section 02: Vegetable Products, Chapter 08: Edible fruits and nuts; peel of citrus fruits or melons, Heading 03: Bananas including Plantains, Subheading 9010: Bananas, fresh. Your HSN code will be 0803.
How many digits is an HSN code?
6 Digits
It also follows that the declaration of HSN at 4/6 Digits has to be out of valid HSN codes only….Clarification on reporting 4-digit/6-digit HSNs.
| S. No. | Aggregate Turnover in the preceding Financial Year | Number of Digits of HSN Code |
|---|---|---|
| 1. | Upto INR 5 crores | 4 |
How do I find my 6 digit HSN code?
- The first two digits (39) indicates the chapter under HSN codes.
- The next two digits (08) indicates the headings under chapters.
- Next 2 digits (90) indicate the sub-headings, 6 digits HSN code is accepted worldwide.
- The next 2 digits (20) sub-classify the product tariff heading during import and export of supply.
How many digits is HSN code?
It also follows that the declaration of HSN at 4/6 Digits has to be out of valid HSN codes only….Clarification on reporting 4-digit/6-digit HSNs.
| S. No. | Aggregate Turnover in the preceding Financial Year | Number of Digits of HSN Code |
|---|---|---|
| 1. | Upto INR 5 crores | 4 |
| 2. | More than INR 5 crores | 6 |
How do I find my 8 digit HSN code?
In the 8 digit structure of an HSN Code, the first 2 digits define the Chapter, at 4 digit level are the headings, at 6 digit are the subheadings and finally at 8 digit are the tariff items.
Is HSN code mandatory?
The mandatory reporting of HSN codes was introduced while preparing the GSTR-1 return from 1st April 2021. As per the revised declaration, taxpayers with an annual aggregate turnover of more than Rs. 5 crore must mandatorily declare six digits of the HSN code on all the tax invoices.
How do I get a HSN code?
HSN code refers to the Harmonized System of Nomenclature code and is used for classifying the goods under GST….Turnover Criteria for Quoting HSN codes.
| Turnover* | Type of Invoice document | No. of digits of HSN to be declared |
|---|---|---|
| Up to 5 crore | Optional for B2C tax invoices | 4 |
| More than 5 crore | Mandatory for all invoices | 6 |
Is 6 digit HSN code mandatory?
“With effect from the 1st April, 2021, it has been made mandatory for a GST taxpayer, having turnover of more than Rs 5 crore in the preceding financial year, to furnish 6 digits HSN Code (Harmonised System of Nomenclature Code), or as the case may be, SAC (Service Accounting Code) on the invoices issued for supplies …
What is 4 digit and 6 digit HSN code?
Similarly, where HSN at 4-digits are specified, valid HSN codes as available in tariff, at 4-digit, 6-digit and 8-digit can be mentioned….Clarification on reporting 4-digit/6-digit HSNs.
| S. No. | Aggregate Turnover in the preceding Financial Year | Number of Digits of HSN Code |
|---|---|---|
| 2. | More than INR 5 crores | 6 |
Where is the 6 digit HSN code in GST?
The first two digits (39) indicates the chapter under HSN codes. The next two digits (08) indicates the headings under chapters. Next 2 digits (90) indicate the sub-headings, 6 digits HSN code is accepted worldwide.
Is 4-digit HSN code valid?
Similarly, where HSN at 4-digits are specified, valid HSN codes as available in tariff, at 4-digit, 6-digit and 8-digit can be mentioned. However, the 4/6 Digit HSN Codes, which are not available in the tariff; along with specific description, Unit and GST Rate; are not allowed to be mentioned.
Who can use 2 digit HSN code?
2-digit HSN code for goods From the second year of GST operations, mentioning 2-digit chapter level HSN code will be mandatory for all taxpayers with turnover between Rs. 1.5 crore and Rs. 5 crore in the previous financial year.
Who can use 6 digit HSN code?
Where is the 8 digit HSN code?
What is HSN code example?
Each heading contains products, which are ultimately assigned an HSN code. Ferro-manganese under ferro-alloys, for example, bears the HSN code 72.02. 01 – 01 being the product code under Heading 02 of Chapter 72. The HSN code for other products under ferro-alloys is 72.02.
